U.S. Commerce Secretary’s Son’s 21 Capital Raises $3 Billion for Bitcoin Investment Fund with SoftBank, Tether and Bitfinex
On April 23, the Financial Times reported that Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick and chairman of brokerage Cantor Fitzgerald, is working with SoftBank Group, Tether, and the Bitfinex trading platform to create a bitcoin investment fund.
The fund, called Cantor Equity Partners, plans to raise $3 billion worth of bitcoin through the newly formed 21 Capital. Of that amount, Tidelcoin will contribute $1.5 billion, while SoftBank Group and Bitfinex will inject $900 million and $600 million, respectively.
The project is expected to be officially announced in the coming weeks, the Financial Times revealed. However, the deal is not yet finalized, and details are still subject to change.